Yusuff Ali (born November 15, 1955) is an Indian billionaire businessman, renowned for being the Chairman and Managing Director of LuLu Group International, a multinational conglomerate headquartered in Abu Dhabi, UAE. His company is best known for its chain of LuLu Hypermarkets, which have a strong presence across the Middle East and several other international locations.
Early Life and Education
- Birthplace: Yusuff Ali was born in Nattika, a village in the Thrissur district of Kerala, India.
- Education: He completed his schooling in Nattika and pursued business studies in Gujarat, India.
- Move to Abu Dhabi: In 1973, at the age of 18, he moved to Abu Dhabi to join his uncle’s small distribution business. This was the starting point of his entrepreneurial journey.
Career and Business Ventures
- Founding LuLu Group:
- In 1975, Yusuff Ali established the first LuLu grocery store in Abu Dhabi. Over the years, he transformed this small store into LuLu Group International, a global retail empire.
- Under his leadership, LuLu Hypermarkets expanded rapidly, and the group diversified into retail, hospitality, real estate, and more.
- Today, LuLu Group generates an annual turnover of approximately $8.4 billion, with thousands of employees worldwide, especially from the Indian diaspora.
- Diversification and Investments:
- Yusuff Ali made strategic investments across various industries.
- In 2013, he acquired stakes in several Kerala-based banks, including CSB Bank and Dhanlaxmi Bank, and increased his stake in Federal Bank.
- He also holds a 9.37% stake in Cochin International Airport and has invested in the UK-based East India Company.
Personal Life
- Family:
- Yusuff Ali is married to Shabira Yusuff Ali, and the couple has three children.
- The family resides in Abu Dhabi, UAE.
Net Worth and Recognition
- As of October 2023, Yusuff Ali’s estimated net worth is $6.9 billion, ranking him as the 27th richest Indian, according to Forbes.
- He has been recognized for his contributions to business, especially in retail, and his role in fostering stronger economic ties between India and the Middle East.
Philanthropy and Honors
- He has contributed to initiatives aimed at improving the lives of underprivileged communities, particularly in education and healthcare.
- He has received several awards, including the Padma Shri, one of India’s highest civilian honors, for his contributions to trade and industry.
Legacy and Inspiration
M. A. Yusuff Ali’s journey from a small village in Kerala to leading a global retail empire exemplifies entrepreneurial success. His visionary leadership and business acumen have made him a prominent figure in the global business landscape, especially in the Gulf region.
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